Asteroid Bandit
NOPHEX PRISIM
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Posted - 2008.02.11 04:27:00 -
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I like vetting the occasional statement.
 Originally by: Hexxx
Let me address the ownership question. The idea of Directors having Shares was something done in the beginning that really doesn't make a lot of sense; we've never used them. For anything. In terms of ownership of EBANK, it is owned by the Board. If someone is on the Board, they have ownership. Ownership of EBANK means responsibility for protecting it, growing it, and sustaining it.
This seems to me not as cut and dry as you make it out to be. Without a public disclosure of you asset handling procedures it is difficult to claim equal membership between directors. Within a single corporation there must be a CEO and with out the use of shares to distribute power equally, power is based on word alone. I think that this is what FastLearner is speaking to.
How can a client know that a director wont walk out with a chunk of EBANKs funds. How can a director stop a teller from engaging in risky or "illegal" actions. Power is an ever present question within EvE and from a cursory reading of your site and statements I can not draw a hierarchy that meets the policies espoused. I would ask of you the same I ask of any investment I comment in; Spell it out so a 13 year old can understand it. If I cant diagram it I cant trust it. (But thats just me, and I would still use EBANK)
Quote:
EBANK has customers and clients, it's investors relate strictly to it's Bond offering which by it's very nature is not beholden to any reporting. Further, EBANK is not required to any reporting as a private entity. That said, EBANK provides reporting and disclosure as a courtesy to our customers, clients, and investors. It is a courtesy that I intend to extend when possible but please understand that sometimes we do need to take care of our own business internally.
I find this to be a short sighted and hypocritical statement. EBANK is not a licensed banking institution. It is a ducktape and hope organization that through the sheer will and determination of its members has crafted a fairly robust institution out of the limited resources EvE provides.
However it is still an investment like any other that come through these forums. Though through the directorate's elevated status, so far as trust is concerned, has eliminated the use of shares for its "customers" I find it only fair that it still be beholden to the same standards it demands of the investments its members vet. You can not ask that new comers go through a process of disclosure while maintaining the right to operate as a black box entity. It strips you of the ethical high ground that EBANK relies so heavily upon.
Internal business is one thing, but as soon as something enters the forums it becomes public and you will have to answer to it in some capacity. A bell can not be un-rung.
A final note. I cant help but find that many of the "problems," or perhaps better said drama, surrounding EBANK comes from your own lack of adequate PR controls. Statements issued on behalf of EBANK are made by the same characters that also casually post and screen IPOs. EBANK directors don't speak with one voice. While vigorous debate and argument is healthy for any organization lack of a unified message leave room for doubt and speculation. I would urge all EBANK directors to keep separate characters for use as official EBANK representatives and other characters for individual opinion and use on the public forums. A third separate character (a Voice of EBANK) would also be a beneficial tool for resolute proclamations.
EBANK like all developed institutions in EvE rely on trust. Trust that can only be hurt by uncertainty and confusion. The responsibility for maintaining this trust, as you said Hexxx, lies with the directors and how you choose to represent your selves on the open forum. It's a tight rope to walk.
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